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GLOSSARY-W

Warranty Deed
A deed to real property that constitutes a guarantee that the seller of a title possesses a clear title that can be transferred, or conveyed, to another party. Generally speaking, a grant deed is considered a warranty deed, while a quitclaim deed is not.

Watered Stock
Refers to shares of stock in a corporation that have been issued at a price greater than their actual value, creating a situation where the total value of the corporation’s shares is less than the value carried on the corporation’s books.

Widow’s Election
Refers to the choice of a widow between accepting an inheritance as defined in her late husband’s will or receiving what is due to her according to the laws of succession.

Winding Up
The process a corporation or partnership takes when liquidating assets, settling accounts, paying bills, distributing remaining assets to shareholders or partners, and ultimately dissolving a business or nonprofit organization.

Words of Art
Refers to jargon, or specialized language, that is peculiar to a particular profession, art, technical work, science, or other field of endeavor.

Writ of Attachment
A court order directing a law enforcement officer, usually a county sheriff, to seize the property of a defendant as a result of a judgment against the defendant in question.

Writ of Coram Nobis
A Latin term meaning “in our presence,” an order from a court of appeals to a lower court that has rendered a judgment requiring the lower court to consider facts that are not contained in the trial record, if those facts, if known at the time of the trial, could have influenced the outcome.

Writ of Execution
A court order directing a law enforcement officer, usually a county sheriff, to place a levy on the real or personal property of a debtor in order to repay the winning plaintiff of a case against the debtor in question.

Writ of Mandate
A court order to a government agency, which could include another court, to follow the law by correcting prior actions undertaken by the agency or by ceasing ongoing criminal acts perpetrated by the agency.